Risk management of Shanghai's privately financed Yan'an Donglu tunnels

W.R. ZHANG (School of Economics and Management, Tong Ji University, Shanghai, China)
S.Q. WANG (Department of Building and Real Estate, National University of Singapore and formerly School of Civil and Structural Engineering, Nanyang Technological University, Singapore)
R.L.K. TIONG (School of Civil and Structural Engineering, Nanyang Technological University, Singapore)
S.K. TING (School of Civil and Structural Engineering, Nanyang Technological University, Singapore)
D. ASHLEY (College of Engineering, Ohio State University, Columbus, Ohio, USA)

Engineering, Construction and Architectural Management

ISSN: 0969-9988

Publication date: 1 April 1998

Abstract

The build‐operate‐transfer (BOT) arrangement is becoming one of the prevailing ways for infrastructure development in China to meet the needs of China's future economic growth and development. Despite tremendous opportunities, the undertaking of infrastructure business in China involves many risks and problems which are mainly caused by China's embryonic legal structure and immature economic market. Further strategies in risk allocation and management are especially important for successful investments in China. Choosing the right path for a BOT project investment is crucial since each project involves different legal rights, different obligations and different risk implications. The present paper describes the structuring and risk allocation, as well as the Government guarantees in a China BOT transport project, the Shanghai Yan'an Donglu Second Tunnel (YD2nd Tunnel). It is also the first BOT project implemented in Shanghai. The project features and the guarantees provided by the Government are described in the present paper.

Keywords

Citation

ZHANG, W., WANG, S., TIONG, R., TING, S. and ASHLEY, D. (1998), "Risk management of Shanghai's privately financed Yan'an Donglu tunnels", Engineering, Construction and Architectural Management, Vol. 5 No. 4, pp. 399-409. https://doi.org/10.1108/eb021092

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MCB UP Ltd

Copyright © 1998, MCB UP Limited

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